The department won’t pursue cases it feels are better left to financial regulators, focusing instead on crimes committed with cryptocurrency.

The U.S. Department of Justice has disbanded its National Cryptocurrency Enforcement Team, retrenching its approach to crypto.

The administration announced this move, like it did at the SEC, as part of its overall push to return enforcement to investigations and cases that harm retail investors,” said Scott Armstrong, a principal at McGovern Weems and a former federal prosecutor who served as senior leadership in cases involving cryptocurrencies.

The U.S. Justice Department is disbanding its National Cryptocurrency Enforcement Team and ordering prosecutors to narrow crypto investigations to focus on drug cartels and terrorist groups, according to a memo seen by Reuters.

The U.S. Justice Department is disbanding a team of prosecutors who targeted cryptocurrency crimes and malfeasance.Stay Ahead of the Market:

The unit that helped investigate Binance and Tornado Cash ‘shall be disbanded effective immediately,’ according to a memo

EXCLUSIVE: President Trump wants to make the United States the “crypto capital of the world," and a top White House cryptocurrency policy official told Fox News Digital the administration is well on its way to ushering in “the golden age for digital assets.

Trump’s Justice Department is going to pull back on prosecuting cryptocurrency fraud, according to a memo from Deputy Attorney General Todd Blanche. The memo, sent to the Justice Department Monday, states that the DOJ won’t be pursuing cases that Blanche said are better suited for financial regulators,

Deputy Attorney General Todd Blanche said the department will largely stop bringing cases that violate the Bank Secrecy Act or contain unregistered broker dealer violations.